{
  "id": 6273750,
  "title": "Indian steel prices set to rise further on coking coal costs, demand revival",
  "url": "https://urgent.news/2026/09/08/indian-steel-prices-set-to-rise-further-on-coking-coal-costs-demand",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-08T11:20:01.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40438473/indian-steel-prices-set-to-rise-further-on-coking-coal-costs-demand-revival"
  },
  "original_language": "en",
  "account": "Indian steel prices are predicted to increase further in the weeks ahead due to a surge in infrastructure and automotive demand, combined with higher coking coal costs, according to executives and analysts. This price rise could assist mills in regaining margins eroded by the surge in coking coal expenses, but Indian infrastructure, construction, and auto companies will experience higher input costs as demand increases. In June and July, Indian mills slightly reduced prices for hot-rolled coil (HRC) by 280 rupees ($2.96) per metric ton. However, HRC prices surged by 4,000 rupees per metric ton between August and early September, reaching a four-year high, according to BigMint, a commodities consultancy. Vedant Goel, director at Enlight Metals, anticipates steel prices to rise by around 3,500 rupees per ton in the coming weeks. Mills pass on the cost increase due to coking coal's substantial share in production costs, according to Shankhadeep Mukherjee, principal analyst for steel at CRU. The sharp price recovery has been propelled by planned maintenance shutdowns at major mills, tighter spot availability, and depleted distributor inventories, as reported by BigMint. Further price hikes are expected in the near future, driven by maintenance shutdowns, post-monsoon restocking, festive demand, project demand, and higher coking coal costs, as stated by an executive at a major steel mill. Although pressure from imports is expected to limit mills' pricing power, a significant rise in steel prices is unlikely in the coming months, as India has imposed a safeguard duty on certain steel imports and launched an anti-dumping investigation into HRC imports from China, Japan, and Russia. Despite these trade measures, imports have increased, with India being a net importer of finished steel between April and July, and imports rising by 36.6% year-over-year, according to government data. China accounts for 31% of India's imports, making it the largest supplier. The risk of higher margins remains due to higher imports if competitive pressure resurges, as noted in a September 1 report by Fitch Ratings.",
  "summary": "NEW DELHI: Indian steel prices are expected to rise further in the coming weeks as a post-monsoon pickup in infrastructure and automotive demand tightens the market while higher coking coal costs lift production costs of mills, executives and analysts said. Higher prices could help mills recover margins squeezed by surging coking coal costs, but infrastructure, construction and auto companies…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}